Not everything is as simple as it seems at first glance. Sometimes, the hardest problems hide in plain sight, waiting to be uncovered.
Sponsored by the Financial Sector Conduct Authority (FSCA), this week’s task is no walk in the park, as contestants face one of the industry’s toughest challenges: ensuring transparency and fairness in embedded insurance products. From bundled funeral cover with mobile services to credit card travel insurance, many consumers have been left in the dark about what their policies cover.
But before the task begins, the pressure intensifies…
With five contestants remaining, they face an unexpected curveball. They must compete in a rapid-fire risk round where they’ll go head-to-head answering compliance questions. Contestants will need to hit the buzzer to respond, and the one with the fewest correct answers will be eliminated from the competition.
Episode 7 task summary
After the rapid-fire round, the real challenge begins. The FSCA has identified, through research and supervisory activities, that certain industry practices related to embedded insurance products may result in unfair outcomes for consumers. Embedded insurance products, such as travel insurance, credit insurance, and funeral cover, are frequently bundled with non-insurance products and services. These products are often sold to vulnerable customers without adequate awareness of their terms, leading to inadequate disclosures and poor consumer experiences.
For example, some credit cards offer travel insurance as an add-on benefit, covering medical costs, lost luggage, or cancellations. However, cardholders may be unaware of the limitations of this coverage, leading to confusion and low claims ratios. Similarly, mobile service providers bundle funeral insurance into packages requiring activation through specific actions, such as dialling a USSD code or maintaining a minimum monthly recharge balance. These conditions are often not clearly communicated, leaving consumers unable to fully utilise the benefits.
These practices underscore the need for greater clarity and transparency in the marketing, sale, and management of embedded insurance products to ensure fair outcomes for policyholders and to avoid confusion or financial harm.
The challenge
The stakes are high as contestants are now tasked with designing solutions that will change the way these products are marketed and sold – and avoid falling into the trap of confusing, unfair practices.
This week, contestants will present their solutions to the FSCA Board (Simon Colman – head judge, CEO of The Liability Company, Nox Dlamini – co-judge, and sponsor judge Makgompi Raphasha – Departmental Head – Insurers Supervision Department FSCA), on how to improve the marketing, sales, and post-sale processes for embedded insurance products.
Here’s what they need to tackle: recommending controls to ensure transparent marketing of embedded insurance products, developing processes to evaluate target markets and product performance, improving disclosure practices, addressing post-sale challenges, promoting consumer education, and ensuring fair outcomes for vulnerable consumers – all while prioritising ethical practices and compliance with legislation. Contestants must propose solutions that ensure embedded insurance products are marketed ethically and transparently, protecting vulnerable consumers from misleading claims.
What’s at stake?
This task is tough. If they miss the mark, the consequences could be catastrophic for their position in the competition.
Watch as the pressure mounts and the strongest contenders push ahead – while others risk falling out of the race. It’s a make-or-break moment. Find out who seizes the opportunity – and who slips through the cracks.
Catch the action – every Thursday on SABC 3
With Pabi Moloi as host and judges Simon Colman and Nox Dlamini at the helm, #TIA2025 – proudly headlined by Sasria SOC Ltd – continues to push the boundaries of innovation, challenging contestants to lead with purpose and think beyond convention.
Don’t miss a moment. Catch #TIA2025 every Thursday at 19:00 on SABC 3, with a repeat at 2 pm the next day, or watch the full episode on Facebook or the TIA website the following day. You can also download the SABC+ app and watch it as it happens!)
Viewer competitions – Watch and WIN!
Engage via WhatsApp during each episode for a chance to win big:
• Vote for your favourite contestant – Win R50 000 (thank you Sasria)
• Answer 1 question per episode – Win R5 000 (thank you Auto & General)
With high-stakes challenges, game-changing insights, and awesome prizes up for grabs, including over R500 000 in prizes for the winner, this season promises to inform, inspire, and ignite new conversations around what it truly means to lead in insurance.
Innovation ignites here. Witness the journey.
• To watch the episode on YouTube, click HERE
• To watch it on the website click HERE
• To watch it on Facebook, click HERE
